FTI Consulting, Inc income statement
In fiscal 2025, FTI Consulting, Inc reported revenue of $3.79bn, up 2.4% on the year before, operating income of $389m (a 10.3% margin) and net income of $271m, or $8.24 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,400 | 1,401 | 1,567 | 1,577 | 1,652 | 1,756 | 1,779 | 1,810 | 1,808 | 2,028 | 2,353 | 2,461 | 2,776 | 3,029 | 3,489 | 3,699 | 3,789 | 3,980 |
| Cost of revenue | 772 | 826 | 957 | 981 | 1,042 | 1,145 | 1,171 | 1,211 | 1,216 | 1,328 | 1,535 | 1,673 | 1,916 | 2,066 | 2,354 | 2,517 | 2,571 | 2,699 |
| Gross profit | 628 | 576 | 610 | 596 | 610 | 611 | 608 | 600 | 592 | 700 | 818 | 789 | 861 | 963 | 1,135 | 1,182 | 1,217 | 1,282 |
| Research and development | 21 | 25 | 24 | 20 | 16 | 19 | 20 | 18 | 15 | 9 | — | — | — | — | — | — | — | — |
| Selling, general and administrative | 345 | 341 | 373 | 378 | 395 | 434 | 433 | 437 | 432 | 466 | 504 | 488 | 538 | 641 | 751 | 822 | 800 | 881 |
| Operating income | 258 | 158 | 205 | 59 | 81 | 147 | 165 | 142 | 109 | 226 | 306 | 283 | 312 | 304 | 378 | 347 | 389 | 352 |
| Interest expense | 45 | 50 | 59 | 57 | 51 | 51 | 43 | 25 | 25 | 27 | 19 | 20 | 20 | 10 | 14 | 7 | 21 | 39 |
| Net interest income | 6 | 5 | 6 | 6 | 5 | 6 | 5 | 4 | 4 | 5 | 5 | 4 | 3 | 5 | 5 | — | — | — |
| Income before tax | 222 | 107 | 153 | 3 | 32 | 101 | 105 | 128 | 87 | 208 | 288 | 262 | 298 | 298 | 358 | 351 | 371 | 316 |
| Income tax | 82 | 41 | 49 | 40 | 42 | 43 | 39 | 42 | −21 | 57 | 72 | 52 | 63 | 62 | 83 | 71 | 100 | 82 |
| Net income | 140 | 66 | 104 | −37 | −11 | 59 | 66 | 86 | 108 | 151 | 217 | 211 | 235 | 236 | 275 | 280 | 271 | 233 |
| Diluted EPS | $2.63 | $1.38 | $2.39 | −$0.92 | −$0.27 | $1.44 | $1.58 | $2.05 | $2.75 | $3.93 | $5.69 | $5.67 | $6.65 | $6.58 | $7.71 | $7.81 | $8.24 | $7.98 |
| Diluted shares (average) | 53m | 48m | 43m | 40m | 39m | 41m | 42m | 42m | 39m | 38m | 38m | 37m | 35m | 36m | 36m | 36m | 33m | 29m |
| EBITDA | 287 | 190 | 234 | 93 | 114 | 183 | 196 | 181 | 140 | 258 | 336 | 315 | 346 | 340 | 419 | 391 | 435 | 402 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 895 | 898 | 944 | 956 | 991 | 983 | 993 | 1,013 |
| Cost of revenue | 625 | 609 | 641 | 638 | 683 | 677 | 677 | 662 |
| Gross profit | 270 | 289 | 303 | 318 | 308 | 307 | 316 | 351 |
| Selling, general and administrative | 208 | 184 | 202 | 199 | 214 | 222 | 231 | 214 |
| Operating income | 53 | 79 | 99 | 118 | 93 | 84 | 85 | 90 |
| Interest expense | 1 | 1 | 5 | 8 | 8 | 6 | 12 | 13 |
| Income before tax | 60 | 81 | 92 | 112 | 87 | 79 | 73 | 77 |
| Income tax | 10 | 19 | 20 | 29 | 32 | 21 | 15 | 14 |
| Net income | 50 | 62 | 72 | 83 | 55 | 58 | 58 | 63 |
| Diluted EPS | $1.38 | $1.74 | $2.13 | $2.60 | $1.81 | $1.90 | $1.99 | $2.35 |
| EBITDA | 64 | 89 | 111 | 130 | 106 | 96 | 97 | 103 |
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